Monetary Governance Process
The Monetary Governance process allows Trustees to set monetary policy via a phased voting process. The phased voting process gives Trustees a framework that they can use to propose monetary policies, vote on those policies in a secure manner, and reveal their preferences.
Phases of Monetary Governance
Proposal Phase (10 days): In the proposal phase, Trustees propose monetary policies to the smart contract system that will be voted on in the Commit Phase.
Commit Phase (3 days): In the commit phase, Trustees order ballots in order of policy preference, ranking their highest policy preference at the top of the ballot, and their lowest policy preference at the bottom of the ballot. Votes are scored using a modified Borda ballot counting method. Votes are also submitted to the chain and are encrypted to prevent tactical voting.
Reveal Phase (1 day): In the reveal phase, the Trustees decrypt their votes from the Commit Phase, making them public and allowing them to be tallied.
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